Toyota Chairman Akio Toyoda Faces Shareholders' Backlash Amid Certification Scandal
Toyota Chairman Akio Toyoda Faces Shareholders' Backlash Amid Certification Scandal
Toyota Chairman Akio Toyoda Faces Shareholders' Backlash Amid Certification Scandal
News summary

Akio Toyoda, chairman of Toyota Motor Co., faces significant opposition from shareholders and proxy advisory firms Glass Lewis and Institutional Shareholder Services (ISS) at the upcoming June 18 annual meeting. This follows Toyota's admission of fraudulent certification tests for several vehicle models, a scandal that has severely impacted the company's reputation and stock value. ISS and Glass Lewis recommend voting against Toyoda's re-election due to governance concerns and lack of board independence, attributing accountability to him for the company's widespread issues. Despite Toyoda's past successes in navigating Toyota through crises and improving operations, the current scandal has overshadowed these achievements. The firm's stock has dropped significantly, losing about 3 trillion yen in market value. The broader issue extends to other Japanese automakers, with multiple companies admitting to safety test cheating in recent years.

Story Coverage
Toyota Chairman Reinstated With Record Low Shareholder Support
Toyota Chairman, Re-elected by Investors, Defends His Hands-On Role
Toyota Shareholders Reelect Chairman But Question Governance
alt
CNBC
Center
Toyota shareholders vote for chairman's re-election
Bias Distribution
60% Center
Information Sources
71639883-fbbd-48af-8cc3-393f63e7b2efcad3d7a8-9ce2-4060-a6fb-3964c8b500897684cee2-ff92-4e65-86b5-bfb0b188107dc4f0a92e-fe88-4e5f-baf6-71bf228bc6ed
+1
Left 40%
Center 60%
Coverage Details
Total News Sources
5
Left
2
Center
3
Right
0
Unrated
0
Last Updated
46 days ago
Bias Distribution
60% Center

Open Story Timeline

Story timeline 1Story timeline 2Story timeline 3Story timeline 4Story timeline 5Story timeline 6Story timeline 7Story timeline 8Story timeline 9Story timeline 10Story timeline 11Story timeline 12Story timeline 13Story timeline 14

Analyze and predict the
development of events

Related News
AI Assistant
Story Coverage
Toyota Chairman Reinstated With Record Low Shareholder Support
Toyota Chairman, Re-elected by Investors, Defends His Hands-On Role
Toyota Shareholders Reelect Chairman But Question Governance
alt
CNBC
Center
Toyota shareholders vote for chairman's re-election

Related Topics

Subscribe

Stay in the Know, Subscribe to Our News

Get the latest news, exclusive insights, and curated content delivered straight to your inbox.

Related News
Recommended News